After five years at The Centrepoint, Metro Department Store will shutter its flagship next month.
The announcement heralds the latest in a series of closures at the 36-year-old mall, which has close to 10 vacant units with more already expected to come.
However, Frasers Property has since confirmed that sports-goods retailer Decathlon will take over at least part of the Metro space, scheduled to open in the first part of next year once fitout is complete.
Metro’s September 15 withdrawal from the mall will leave only two of its Singapore outlets open, at Paragon and Causeway Point respectively. Staff of the store have yet to be briefed as to whether or not they can expect to be employed at the other outlets.
“In recent years, Metro has been rationalising its retail business in response to changing market conditions,” said a spokesperson for the firm. “Metro continues to focus on its core businesses of retail in Singapore and Indonesia, together with property investment and development.”
Adding Decathlon to the tenant mix will provide a significant drawcard to the troubled mall which is seeking to morph into a lifestyle destination with experiential retail concepts targeting younger consumers.